Red Hat CFO Charles E. Peters, Jr. Sells 35,309 Shares (RHT)
Red Hat (NYSE:RHT) CFO Charles E. Peters, Jr. unloaded 35,309 shares of the stock on the open market in a transaction dated Friday, August 15th. The stock was sold at an average price of $60.00, for a total value of $2,118,540.00. Following the completion of the sale, the chief financial officer now directly owns 74,652 shares in the company, valued at approximately $4,479,120. The sale was disclosed in a legal filing with the SEC, which is available at this link.
A number of research firms have recently commented on RHT. Analysts at Wells Fargo & Co. downgraded shares of Red Hat to a “buy” rating in a research note on Friday, August 1st. Separately, analysts at RBC Capital raised their price target on shares of Red Hat from $64.00 to $70.00 in a research note on Friday, August 1st. Finally, analysts at Susquehanna upgraded shares of Red Hat from a “neutral” rating to a “positive” rating in a research note on Friday, August 1st. They now have a $70.00 price target on the stock, up previously from $57.00. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $63.50.
Shares of Red Hat (NYSE:RHT) traded up 1.87% on Monday, hitting $60.97. 981,408 shares of the company’s stock traded hands. Red Hat has a 52-week low of $41.89 and a 52-week high of $61.45. The stock’s 50-day moving average is $56.8 and its 200-day moving average is $54.42. The company has a market cap of $11.529 billion and a P/E ratio of 65.05.
Red Hat (NYSE:RHT) last announced its earnings results on Wednesday, June 18th. The company reported $0.34 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.33 by $0.01. The company had revenue of $423.80 million for the quarter, compared to the consensus estimate of $413.97 million. During the same quarter last year, the company posted $0.32 earnings per share. Red Hat’s revenue was up 16.7% compared to the same quarter last year. Analysts expect that Red Hat will post $1.54 EPS for the current fiscal year.
Red Hat, Inc (NYSE:RHT) is a global provider of open source software solutions, using a community-powered approach to develop and offer operating system, middleware, virtualization, storage and cloud technologies.
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